​World Trade Center of Greater Philadelphia News

New York Times​​economics correspondent Jack Ewing recently put the Germany-China economy in focus, illustrating the recent downshift in emerging markets makes Germany, as well as all of Europe, economically vulnerable. Here are a few takeaways from the article:

“We are going from an unbelievable boom to a down phase”

​Karl-Heinz, Rieser, Managing Director of Eickhoff

The German manufacturer Eickhoff Bergbautechnik sold less than half of their shearer loader (mining) machines compared to last year - drops in sales across midsize German exporters translate into slower overall economic growth. Suppliers of mining equipment generated exports of €6.2 billion in 2012, exports in 2015 fell to €3.5 billion.

​Germany contributes more than a quarter of financing for the new bailout fund, European Stability Mechanism, to prevent the collapses of countries.​

Automobiles are one of Germany’s largest exports. Last year, China became the biggest market for the German Porsche. But growth in the Chinese auto-market is expected to only be around 4% this year, half of last year’s percentage. With more developing countries, such as China, pulling back from the manufacturing German machine, the German and European economy becomes more vulnerable.